Tether Buys Into Bitdeer Mining Company
May 31, 2024
Bitcoin miner Bitdeer has entered into a subscription agreement with stablecoin issuer Tether for the private placement of 18,587,360 Class A common shares, generating nearly $100 million in revenue for the company. As part of the agreement, there is also an option to purchase an additional 5 million shares at $10 per share, which would bring in an additional $50 million if fully exercised. Bitdeer plans to use the proceeds to expand its data center and develop ASIC-based mining equipment.
